Powerball jackpot climbs to $277 million. Here's the tax bite for the winner
Although 24% is withheld from big lottery wins for federal taxes, the top marginal rate of 37% means the winner could expect to owe more to the IRS at tax time.
Although 24% is withheld from big lottery wins for federal taxes, the top marginal rate of 37% means the winner could expect to owe more to the IRS at tax time.